Fire Capital Management LLC Buys 42 Shares of Adobe Inc. $ADBE

Fire Capital Management LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,277 shares of the software company’s stock after acquiring an additional 42 shares during the period. Fire Capital Management LLC’s holdings in Adobe were worth $1,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after purchasing an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Nuveen LLC bought a new position in Adobe during the 1st quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi raised its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.6%

ADBE stock opened at $359.91 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $150.66 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. The business’s 50 day moving average price is $351.70 and its two-hundred day moving average price is $368.98. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADBE. UBS Group lowered their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. TD Cowen lowered their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $433.41.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.